Packworks Raises US$ 2M in Seed Funding
Summary
The round was led by Fast Group and CVC Capital Partners, with participation from ADB Ventures, Arise, Techstars, and IdeaSpace Foundation. The company intends to use the funds to develop The Pack: SuperStore App, increase the breadth of offerings, and improve its user journey. Founded in 2018 and led by Bing Tan, CEO, Packworks provides a business-to-business (B2B) platform that allows sari-sari store owners to become more efficient in managing their business. Through The Pack: SuperStore App, store owners can process their business’ inventory, bookkeeping, and data collection. Witnessing firsthand the challenges brought by limited access to sari-sari store owners, especially in far-flung places, they promised to share their technical know-how and inspire them to shift from analog processes to using technology.
Funding
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